Making a sale is one of the most exciting parts of being a writer, but when does a sale become a profit?
Knowing the answer to this question is paramount to establishing a successful writing business.
Every business has expenses, and if you're a writer, you have them to.
It's important to track what each project costs you, so you can determine when your sales truly turn to profits.
Typical expenses for a writer include:
Paper & Ink
Domain Name Registration Fees
Sales Platform Fees
Cover Art Costs
Just as important as your expenses is your time.
What salary or hourly wage are you paying yourself? It counts, too!
Profits don't begin until the cost of doing business has been earned back, so be sure you are tracking the costs of doing business as diligently as you are checking sales stats!